Harry Reid: No Short-Term Deal On Debt Ceiling

As Congressional leaders huddle this weekend to hammer out a deal to increase the debt limit before the nation defaults, Senate Majority Leader Harry Reid reaffirmed that he won't accept the solution some Republicans have been pushing as default gets close.

"I will not support any short-term agreement, and neither will President Obama nor Leader Pelosi," Reid said in a statement. "We seek an extension of the debt ceiling through at least the end of 2012. We will not send a message of uncertainty to the world."

Reid and Pelosi are joining Senate Republican leader Mitch McConnell and Speaker John Boehner in Boehner's office this evening for another round of talks following an hour-long session at the White House Saturday.

Boehner reportedly told his members after the meeting that he's angling for a deal by the end of the day Sunday, which is when Asian trading markets open for Monday business.